港股异动 | 江南布衣(03306)再跌超5% 中期业绩稳健增长 现金流下滑22.2%

智通财经
Feb 28, 2025

智通财经APP获悉,江南布衣(03306)再跌超5%,该股昨日收跌近12%。截至发稿,跌5.49%,报14.8港元,成交额7421.72万港元。

消息面上,江南布衣此前发布2024年12月31日止6个月中期业绩,该集团取得收入人民币31.56亿元(单位下同),同比增加5%;公司股东应占利润5.995亿元,同比增加4.71%,拟派发中期股息每股0.45港元。然而,经营活动产生的现金流入净额为8.23亿元,较2023年同期的10.57亿元下降22.2%。截至2024年12月末,江南布衣在全球经营的独立实体零售店总数达2126家,半年内增加了101家。其中,经销商门店增加125家,而自营店则减少24家。

华西证券指出,上半财年政府补助为6157万元、剔除政府补助影响后的净利润为5.42亿元、同比下降0.4%。该行分析,下半年政府补助存在一定不确定性;公司的成长品牌及新兴品牌仍有较大开店空间,未来随着大店占比提升、多品牌集合店增加、低效直营店转加盟、粉丝经济带动离店销售等,店效仍有较大提升空间;中长期来看,粉丝粘性有望带动公司毛利率稳中有升、规模效应带动费用下降,有望带动公司净利率进一步增长。

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